Quantitative Analysis of Managerial Decisions
Course Name: Quantitative Analysis of Managerial Decisions
Teachers: Michalis Anthropelos
School: Finance and Statistics
Department: Banking and Financial Management
Level: Undergraduate
Course ID: ΧΡΠΑΔ01 Semester: 3rd
Course Type: General Background
Prerequisites: –
Teaching and Exams Language: Greek
Course Availability to Erasmus Students: Yes (in English)
Course webpage: https://bankfin.unipi.gr/faculty/anthropelos/teach.html
Specific Teaching Activities |
Weekly Teaching Hours |
Credit Units |
Lectures and solving exercises |
4 |
5 |
Course Content
- Introduction of problem solving
- Graphical solutions
- Method of
- Duality of linear
- Sensitivity analysis and economic interpretation of the results
- Method of Karush-Kuhn-Tucker.
- Applications of portfolio selection and financing of investment projects.
Teaching Results
The course is mostly dedicated to the Linear Programming problems and their applications on decision making for optimal sources allocation, portfolio selection, financing of investment and minimization of production cost. It focuses on the modeling of such problems and studies the simplex method.
The second part of the course deals with non-linear optimization problems where we study the method of Kuhn-Tucker. We also study how the linear and non-linear optimization problems could be solved with the use of the software (solver).
After the successful completion of the course a student will be able to:
• Understand the basic rules of modeling managerial problems of decision making.
• Apply the basic methods of solving linear optimization problems with or without the use of a software.
• Solve problem of optimal allocation of assets and liability management using linear programming techniques.
• Understand the difficulties of the non-linear optimization problems and the sufficient conditions that lead to a solution.
Skills
- Decision making
- Autonomous work
- Team work
- Planning and project management
Teaching and Learning Methods - Evaluation
Lecture: Ιn Class
Use of Information and Communication Technologies: –
Teaching Analysis:
Activity |
Semester Workload |
Lectures |
26 |
Exercises with software |
9 |
Study |
90 |
Total |
125 |
Student Evaluation:
Final writing exams,
– Questions that shows whether students have understood the material.
– Exercises on problems analyzed in the course.
– Questions that indicate whether students can think productively and critically regarding the material of the course.
Recommended Bibliography
– Recommended Bibliography:
– Main textbook: “Επιχειρησιακή Έρευνα για τη Λήψη Διοικητικών”, Γ. Οικονόμου και Α. Γεωργίου, Εκδ. Μπένου, 2011.
– “Management decision making“, George E. Monagan, Cambridge 2000
– “An Introduction to Management Science – Quantitative Approaches to Decision Making”, Anderson D.R., D.J. Sweeney and Τ.Α. Williams, 11th ed., Thomson, 2005.
– “Introduction to Operations Research”, Hillier, F. S. and G. J. Lieberman, 7th ed., McGraw-Hill, 2002.